Assorted Links

  • more evidence that chocolate is healthy. “The highest levels of chocolate consumption were associated with a 37% reduction in cardiovascular disease and a 29% reduction in stroke.” This is good news.
  • The great bank robbery by Nassim Taleb and Mark Spitznagel. “For the American economy . . . the elephant in the room is the amount of money paid to bankers over the last five years.. . .  That $5 trillion dollars is not money invested in building roads, schools and other long-term projects, but is directly transferred from the American economy to the personal accounts of bank executives and employees. Such transfers represent as cunning a tax on everyone else as one can imagine.” This is a new variation of “behind every great fortune is a great crime”.
  • Nutritionist, heal thyself. Fat is obviously good for the skin. Which suggests it is good for the whole body, just less obviously.
  • The Taleb/Spitznagel point is supported by this article (via Marginal Revolution), which concludes: “Who has been the first to lose confidence in the European banking system? . . . The European banking system itself.” As they say: Don’t con a conner.

6 Responses to “Assorted Links”

  1. Jennifer Eloff Says:

    Just thought I’d comment. Thanks for the link to my blog post (not one I am particularly proud of, but it makes a point). You have a popular blog because my stats went through the roof. That was fun!! Have a nice day. :)

  2. James A Donald Says:

    The five trillion was not stolen by the banksters. Check all that spam in your inbox. Along with the ads for real viagra, fake viagra, and viagra manufactured in violation of patents, you will see offers of no money down loans.

    A very large number of people, most of them Hispanic, many of them with no job or legal income, purchased million dollar houses no money down, and never made a payment on them. If the price went up, they intended to flip them for a profit. If the price went down, they intended to live in it rent free indefinitely.

    And who is responsible for the bright idea of lending to such people?
    You will find the answer at http://www2.fdic.gov/crapes/2007/32069_071001.pdf

  3. UncleLongHair Says:

    Where does this 2.2 trillion figure come from? I think it is completely fabricated. The CEO of Wells Fargo was recently paid $21 million in a year. That is a lot, maybe too much and excessive, but it would take 22 thousand pay packages this size to add up to 2.2 trillion over 5 years, and only a handful of execs are paid like this. What exactly constitutes a “banker”, are they including hedge funds and investment banks like Goldman Sachs? Maybe the are including all of the rank and file bank employees — suggesting that bank tellers are overpaid? I think some fact checking is in order before accepting this argument.

  4. Paul Sherrard Says:

    “OMG we gave trillions of $$$ to the banks? Michelle Malkin never told me!”

    The federal government bought up trillions’ worth of worthless toxic assets from the banks. http://sanders.senate.gov/newsroom/news/?id=9e2a4ea8-6e73-4be2-a753-62060dcbb3c3: They have NOT SPENT ONE DIME in aid for defaulting homeowners. Hispanic or not.

    Furthermore, the homes were foreclosed on. They represent assets RETURNED to the banks. This is not too hard to figure out. The people who bought homes they couldn’t afford and are now out on the street? No, they’re not the ones who took our money and ran.

  5. Paul Sherrard Says:

    Anyway, I think it’s important that Taleb’s larger point be stressed: the call for widespread divestment in banks that enrich their employees at public expense.

  6. Joseph Moroco Says:

    Love all the chocolate is good for us articles, but really wish someone would lie to me and say there is scientific proof that it is “milk” chocolate that benefits me.